Trump dismisses recession "no way" but "reviews tax cuts"

2019-08-21T09:25:58.848Z

Amid fears of recession in the United States, Trump says he is considering cutting taxes on capital income, including salaries and stocks. Trump dismissed the recession and stressed that tax cuts have always been a task, but US media have interpreted it as a card to calm the recession and boost the economy.

Amid fears of recession in the United States, Trump says he is considering cutting taxes on capital income, including salaries and stocks.

Trump dismissed the recession and stressed that tax cuts have always been a task, but US media have interpreted it as a card to calm the recession and boost the economy.

According to the Associated Press and the Washington Post, President Trump told reporters that before the talks with Romanian President Klaus Johannis, the report said there were no unprecedented 160 million workers in US history.

The Fed was very psychologically important, and again aimed at the Fed, if the Fed works well, it will see explosive growth like never before.

Recalling that the United States is competing with other countries, such as China and Germany, where the stimulus packages are being used, the Fed pushed the rate down and at least 1 percentage point over a period of time, not once.

Trump says he is considering lowering capital income-related taxes, including payroll taxes and stock and bond transactions, on some media reported tax cuts, but he does not mean he will do it right away.

However, he stressed that tax cuts have always been the subject of consideration, and cautioned against turning them into stimulus measures due to concerns about the economic downturn.

Payroll taxes are 6.2 percent of employers' salaries for social security programs, but they cut the tax rate to 4.2 percent temporarily to recover from the 2011 economic recovery of former President Obama.

In response, the New York Times says the Trump administration has drafted a white paper to explore payroll tax cuts, and is discussing plans to cut capital-income tax rates that will benefit primarily wealthy investors.

Behind the scenes, he said, he is collecting a Continental Exhibition Plan (Emergency Plan) in case the economy worsens, and he says that concerns about economic slowdown are growing within the Trump administration.